New Issue: Country Garden prices $500 million add-on to 3 1/8% notes due 2025

By Marisa Wong

Los Angeles, May 12 – Country Garden Holdings Co. Ltd. priced $500 million of additional 3 1/8% senior notes due Oct. 22, 2025 (Baa3//BBB-) at 100.113, according to a company announcement.

The notes will be consolidated and form a single series with the $500 million of 3 1/8%notes due 2025 issued on Oct. 22, 2020.

Morgan Stanley & Co. International plc, UBS AG Hong Kong Branch, J.P. Morgan Securities plc, Goldman Sachs (Asia) LLC, BNP Paribas, Hongkong and Shanghai Banking Corp. Ltd., Standard Chartered Bank and CLSA Ltd. are joint global coordinators, joint lead managers and joint bookrunners for the Regulation S tap issue.

Proceeds will be used to refinance existing medium- to long-term offshore debt set to mature within one year.

Country Garden is a Foshan, China, real estate developer.

Issuer:	Country Garden Holdings Co. Ltd.
Issue:	Senior notes, add-on
Amount:	$500 million
Maturity:	Oct. 22, 2025
Bookrunners:	Morgan Stanley & Co. International plc, UBS AG Hong Kong Branch, J.P. Morgan Securities plc, Goldman Sachs (Asia) LLC, BNP Paribas, Hongkong and Shanghai Banking Corp. Ltd., Standard Chartered Bank and CLSA Ltd.
Coupon:	3 1/8%
Price:	100.113 plus accrued interest from and including April 22 to but excluding May 18
Pricing date:	May 11
Ratings:	Moody’s: Baa3
	Fitch: BBB-
Distribution:	Regulation S
Total issuance:	$1 billion, including $500 million issued on Oct. 22, 2020

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